Euromoney Institutional Investor PLC invests in RAM

RAM selected to manage diverse requirements of leading global publisher

Euromoney Institutional Investor PLC, a provider of business information through magazine, book, Internet and database businesses, has selected RAM’s specialist fixed asset management software to manage its assets across a multitude of profit centres.

Euromoney, established in 1969, is famous for publications such as Euromoney Magazine, Institutional Investor Magazine, Batteries International, Business Traveller and Air Finance Journal. With a turnover of over £200 million, the group publishes worldwide in countries such as the UK, the US, France and Asia.

The new fixed asset management solution will replace an ageing spreadsheet system that is no longer equipped to manage the complex requirements of the group. Bridget Shaw, Group Financial Accountant at Euromoney recalls, “The process of managing assets on a series of spreadsheets had become increasingly tedious. As the asset register increased, so did the number of errors which had to be manually corrected. We could no longer rely on the list of complicated formulae and found it almost impossible to reconcile with the ledger. Data could be easily deleted and there was no asset history.

“As a company with over 100 profit centres across the world, we needed a system that could meet our specific criteria. It had to be set up as a multi-company register and be able to manage transfers between companies and the various profit centres. A new system also had to be compliant with our SUN Accounts general ledger, be user-friendly and have a flexible range of user reports. We looked at systems from several suppliers but RAM’s came out the best. It met all of the specifications and was the most cost effective. With its impressive reputation and extensive list of clients in our sector, RAM also stood out in terms of the customer service that it offered, particularly the ease with which it could convert our data to run on the new system.”

The finance department at Euromoney will use RAM's system to monitor and report on all capital expenditure within the group. In particular, it will utilise the software to dramatically cut down the time spent producing detailed fixed asset analyses. As a small team, the finance staff can now allocate the time saved to other projects.

Shaw concluded, “Being able to access accurate data with a full detailed history will make a huge difference to our department. Fixed Asset Management will no longer be a task that we dread, as the software will do the hard work for us.”